New Zealand stocks rally despite lethargy on other Asian stock markets

Tue, 07 Feb 2023

New Zealand stocks rally despite lethargy on other Asian stock markets

Lola Evans
30 Nov 2022, 16:41 GMT+10

Stock markets in Asia on Wednesday took their cue from Wall Street overnight.
The exception was New Zealand's S&P/NZX 50, which advanced 156.69 points.
Across the Tasman, the Australian All Ordinaries rose 38.70 points or 0.52 percent to 7,480.70.

SYDNEY, NSW, Australia - Stock markets in Asia on Wednesday took their cue from Wall Street overnight with limited moves in either direction.

The exception was New Zealand's S&P/NZX 50, which advanced 156.69 points or 1.38 percent to 11,552.04.

The Hang Seng in Hong Kong took off late in the day, eventually closing 392.55 points or 2.16 percent higher at 18,597.23.

The Australian All Ordinaries rose 38.70 points or 0.52 percent to 7,480.70.

In Japan, the Nikkei 225 dropped 58.85 points or 0.21 percent to 27,968.99.

South Korea's Kospi Composite added 29.74 points or 1.22 percent to 2,463.13.

China's Shanghai Composite edged up 1.59 points or 0.05 percent to 3,151.34.

On foreign exchange markets, the U.S. was little changed after making early forays into positive territory, only to give up gains as European traders began arriving at their desks.

The euro ended at 1.0353 around the Sydney close Wednesday. The British pound firmed slightly to 1.1984. The Swiss franc edged up to 0.9527. The Japanese yen was little changed at 138.34.

The Canadian dollar edged up to 1.3564. The Australian dollar traded at 0.6705. The New Zealand dollar inched up to 0.6225.

Overnight on Wall Street, the Dow Jones industrials inched up 3.07 points or 0.01 percent to 33,852.53.

The Standard and Poor's 500 edged down 6.32 points or 0.16 percent to 3,957.62.

The Nasdaq Composite eased 65.72 points or 0.59 percent to 10,983.78.

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